Neco Model Questions Vol1 2022 Commerce Question 44
Practice objective / multiple choice question 44 from the 2022 Neco Model Questions Vol1 Commerce examination.
An investor buys shares of XYZ company on three occasions:\n- Day 1: 500 shares at \(\text{₦}1,200\) each, brokerage commission 1.5\% of the purchase amount.\n- Day 2: 300 shares at \(\text{₦}1,350\) each, commission 1.5\%.\n- Day 3: 200 shares at \(\text{₦}1,500\) each, commission 1.5\%.\nLater he sells 800 shares at \(\text{₦}1,600\) each, paying a selling commission of 2\% of the sale amount and a capital gains tax of 10\% on the profit (profit before tax). He retains the remaining shares. What is the net profit (in \(\text{₦}\)) after accounting for all commissions and the tax on the sold shares?
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About This Question
This is Neco Model Questions Vol1 2022 Commerce Question 44. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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